In the news

Study predicts Massachusetts economy will lose momentum

July 28, 2012

The US economy lost momentum over the past three months and Mass­a­chu­setts is expected to follow as con­sumer spending slows and the eco­nomic crisis in Europe takes its toll.

Although the Mass­a­chu­setts economy grew at more than double the national rate, according to report released Friday by the Uni­ver­sity of Mass­a­chu­setts, a slow­down in the state is immi­nent, in large part because of the anemic national recovery, ana­lysts said. The state’s economy expanded at a 4 per­cent annual rate from April to June, UMass said, but the national economy grew at just 1.5 per­cent, the US Com­merce Depart­ment reported Friday.

Alan Clayton-​​Matthews, a North­eastern Uni­ver­sity pro­fessor who did the eco­nomic analysis for the report, noted that Mass­a­chu­setts mer­chan­dise exports declined for the first five months of the year in Massachusetts.

“We’re expecting things to get worse,” Clayton-​​Matthews said. “It looks like we’ve been lucky so far.”

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